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Stock Based Compensation
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation

Note 8 - Stock Based Compensation

 

Compensation expense for all stock-based awards is measured on the grant date based on the fair value of the award and is recognized as an expense, on a straight-line basis, over the employee’s requisite service period (generally the vesting period of the equity award). The fair value of each option award is estimated on the grant date using a Black-Scholes option valuation model. Stock-based compensation expense is recognized only for those awards that are expected to vest using an estimated forfeiture rate. The Company estimates pre-vesting option forfeitures at the time of grant and reflects the impact of estimated pre-vesting option forfeitures in compensation expense recognized. For options and warrants issued to non-employees, the Company recognizes stock compensation costs utilizing the fair value methodology over the related period of benefit.

 

Stock-based compensation expense was $0 and $3.6 million for the three months ended September 30, 2016 and 2015, respectively. Stock-based compensation expense was $0 and $6.4 million for the nine months ended September 30, 2016 and 2015, respectively.

 

Stock Options

 

There are no stock options outstanding as of September 30, 2016 and December 31, 2015.